Kotoko financing style questioned

Chairman of Hot Circle 2, one of the supporter groups of Asante Kotoko – Nkoo Joseph, has called for a more sustained and pragmatic way of financing the club – instead of depending on the largesse of its Board of Directors.

“What I have observed presently about Kotoko is that, it is overly relying on the generosity of the club’s Board to run its affairs.

“In this modern era of football, this is not done. It is an unacceptable practice,” he said, urging the chieftains of the Asanteman outfit to change the situation.

He asserted that in modern day football, it was the responsibility of shareholders or owners of the clubs to do the funding, “whiles the Board of Directors formulate policies and take decisions for the club.”

“A very good example is what is currently happening at our rival side, Accra Hearts of Oak.”

However, according to the Hot Circle 2 chairman, most Kotoko supporters were appreciative of the efforts of the current Board of Directors led Dr Kwame Kyei, especially during the biting moments of COVID-19.

He said board members in the persons of Dr Kofi Abban, Madam Evelyn Nsiah Asare, Mr Jude Arthur, Mr Kwadwo Boateng Genfi, Alhaji Lamin, Lawyer Kwamina Mensah, Mr Joseph Yaw Adu and Baffour Kwame Kusi, were all lauded for their financial munificence for the club during the harsh moments of COVID-19, the club’s African campaign and the ongoing Ghana Premier League (GPL).

“Indeed, in the era where most businesses were not functioning properly as a result of Covid, the Board of Directors financed the team in every aspect and they continue to do so.

“The big question, however is, for how long can the Board of Directors continue with this practice of financing the team from their own pockets and what happens to their investments when they are sacked one day?”

He goaded Kotoko to wake up now and find an immediate panacea as regards generating funds to run the club.

“Or, are we waiting for a day when Asanteman will call off all these funding related problems and take over with a seed capital for the Board of Directors to have a briefing space financially,” he quizzed.

Mr Joseph praised the Board for bringing on Nana Yaw Amponsah as the Chief Executive Officer of the club, saying “his management has so far done very well in this Covid era by bringing 11 sponsorship and partnership arrangements on board.”

He named some of the sponsors as Hisense, Star Life, Star Assurance, CedarVite, Creek, Adongo Next Level, Goil, Ticketlake, Veo and InStat, “which he has managed to bring on in less than seven months in charge, not to talk about the ongoing Adako Jachie Project.”

BY JOHN VIGAH

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